If you needed to lodge a claim with us and it was determined that the vehicle couldn't be repaired, we'd deem it a write-off.
That's when the Market Value of a vehicle becomes relevant.
Market Value means the amount we assess your car to be worth on the road in your local area.
Market Value is based on many factors including the age of the vehicle, make, model, kilometres travelled, permanently fitting accessories and modifications and general condition.
Market Value also includes costs of registration and compulsory third party insurance and any stamp duty and transfer fees.
We may use recognised industry publications to assist us in determining its market value.
The Market Value of your car can change over time.